Hi Avinash,
Technical Support helped us. They detected CR # 651385 Fail to create connection to MSSQL/UDB/DB2/Oracle with connection profile rs_ase_to_msss. The WA is
alter connection to dataserver.database set dsi_dataserver_make to 'ase'
alter connection to dataserver.database set dsi_connector_type ='ctlib'
We are on the process to configure the replication.
I will let you know the result.